Most markets see their fair share of ups and downs and the home improvement industry is certainly no stranger to turbulence. FENSA understands the impact these wider market changes can have on local installers and so has created a bank of support, including a complete guide on ‘How to become a sole trader’, to help these companies through this latest bout of instability.
“The window and door industries are unfortunately feeling the impact of government uncertainty, rising inflation, and increased interest rates,” explains Lis Clarke, Operations Director for FENSA, “directly after a period of booming sales that were almost difficult to fulfil. The volatile nature of these changes makes it hard for businesses to keep up and as we have seen in the last couple of months, a couple of big names in the sector have been forced to close their doors as a result. One of which, industry giant Safestyle.
“Whether or not installers have been directly affected by the closure of Safestyle or any other supplier to whom they subcontract, uncertainty can highlight the need for change. One of these changes may be to set up as a sole trader for more autonomy. But the thought of going solo and being your own boss can be daunting. That is why we have produced a comprehensive guide to becoming a sole trader. The guide covers everything including the first steps to take to become a sole trader, employing people, how to manage your taxes, what the risks are, insurance considerations, and how to manage your finances.”
As well as the launch of the new guide, FENSA is also supporting installers with practical help such as dedicated staff to deal with all Safestyle insurance claims for Installsure and dedicated S75 reports produced by RISA for homeowners with a unique webpage for them to book in. The company has also made Mandatory Technical Competency (MTC) provisions for the installers that now need to update their details on an MTC card or certificate and has published a Frequently Asked Questions document on its own website, as well as the GGF and RISA sites for easy access.
Lis concludes: “It is always hard when any company goes out of business, but of course the larger the organisation, the wider the impact. We want to reassure installers that they are not alone in dealing with the fallout of the Safestyle closure. Whether they need practical support, help with any additional admin involved, or simply some advice on how they can move forward, FENSA has the resources to help.”
